As the compliance profession continues to ascend, I hate to divert attention to what may appear to be a trivial issue. We all know that too much time is spent on issues such as size of offices specific titles given to various positions, and other topics that are not focused on important organizational purposes and tasks. This issue, however, may carry symbolic importance. The location...
Washington is a town that is filled with secrets – some interesting and others not so interesting. I grew up and have practiced law in Washington, DC. all of my career. Nothing really surprises me in Washington, DC. With the globalization of the economy, a little known process for reviewing proposed foreign investments in the United States is quickly rising in importance. CFIUS (“The Committee...
I always comment that we live in a world of ADHD – no one really focuses on anything these days. Instead, they pick and chose from the stream of sensory bombardment delivered electronically to everyone through the Internet. We all love Twitter for that reason, but have you ever noticed how many people rely on Twitter as their primary source of news? It is a...
I am pleased to announce the recent publication by Corporate Compliance Insights of my recent E-Book, The Impact of New Technologies In Corporate Governance, Risk Management and Compliance. You can download the book for free HERE. From the boardroom to the sales call, technology will revolutionize GRC systems. The challenge for corporations is to harness GRC systems to increase efficiency and management capabilities while protecting...
Forgive me for taking the FCPA Paparazzi to task but when they deserve it, they deserve it. A quick diversion — I often am asked by fellow bar members and commenters if I am referring to them as being a member of the FCPA Paparazzi. My definition of the FCPA Paparazzi usually covers those writers who confuse FCPA information with FCPA scare tactics and manipulate...
As a profession, Chief Compliance Officers have to be aware of the old adage – “Be careful what you ask for, you just might get it.” Whoever crafted that saying, it applies right now to CCOs. As more CCOs are given the “opportunity” to run a compliance program with the resources they request and the authority they need, all eyes will be on their performance. ...
Below the radar screen of aggressive FCPA enforcement, US Attorneys, HHS-OIG and State Attorney Generals are pushing an aggressive agenda using federal and state anti-kickback laws. It is hard to keep it all in perspective but for companies falling under the federal healthcare system it is a constant worry. The AKS was enacted in 1972, and since then, it has been used to prosecute health...
The Department of Justice and the SEC have had a profound effect on corporate compliance programs. That is an understatement. Prior to the reinvigorated FCPA enforcement program, corporate compliance programs were relatively modest in scope. Sarbanes-Oxley resulted in reforms and controls designed to improve financial reporting. DOJ’s aggressive FCPA enforcement program has catapulted compliance to a significant priority. In many respects, companies are still scrambling...
The Justice Department and the SEC have consistently preached the importance of remediation – that is, efforts by companies to address compliance deficiencies during the pendency of an investigation. In 2013, DOJ and SEC delivered significant benefits to companies for companies that made significant changes during an investigation. The two most significant examples of such remediation were the Parker Drilling and Weatherford cases. Both companies...
Looking back on 2013, the Department of Justice and SEC had a strong enforcement year. It is interesting to analyze how prosecutors exercised their discretion – what industries were subjects of FCPA investigations? How did the company come to the attention of the DOJ and SEC? There is no question that most subjects of FCPA investigations are “discovered” through the voluntary disclosure process. Companies continue...
